Hyperbridge Becomes Polkadot's Native Bridge as DAO Backs DeFi Singularity Proposal
The Polkadot DAO has officially approved the Polkadot DeFi Singularity initiative, a landmark proposal designed to expand the accessibility of DOT and its derivatives across the multichain. With overwhelming community support, this initiative will enhance liquidity and interoperability, making it easier for developers and users to engage with Polkadot's DeFi ecosystem.
As part of this decision, the DAO has selected Hyperbridge as its native bridge, reinforcing its commitment to seamless cross-chain connectivity. The proposal, which is a joint effort by Hyperbridge and Bifrost, seeks to address Polkadot's liquidity challenges by incentivizing DOT liquidity in external ecosystems. Historically, limited on-chain accessibility has restricted external users and liquidity from entering Polkadot efficiently, slowing its expansion relative to other blockchain networks.
To counter this, the DAO has allocated 795,000 DOT from the Polkadot Treasury to launch a liquidity campaign. The campaign will distribute vDOT incentives to liquidity providers on key decentralized exchanges, focusing on DOT/ETH and vDOT/ETH pairs across Arbitrum, Base, BNB Chain, and Ethereum mainnet. By broadening DOT's presence in these ecosystems, the initiative aims to position DOT as a reserve asset, attract greater liquidity, and showcase Polkadot's interoperability across Web3.
Seun Lanlege, Co-founder of Hyperbridge shared, 'This proposal lays the necessary groundwork for the $DOT asset to find greater utility in the multichain as well as the pathways for new users and developers into the Polkadot ecosystem.'
This approval marks a strategic step forward in Polkadot's vision for a more interconnected and liquid ecosystem. With the Polkadot DeFi Singularity now set in motion, the stage is set for greater adoption, developer participation, and user engagement within the Polkadot network.
For media inquiries, please contact Jonathan Duran at Jonathan(at)Distractive(dot)xyz
About Hyperbridge
Hyperbridge is a cryptoeconomic coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. Hyperbridge is the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests).
About Polkadot
Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world's most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they're co-creators with the power to shape its future.
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